Deadline Date: February 15, 2027
The Plant Your Roots Interest Rebate Program is accepting applications to encourage and support new ownership of commercial farms in Nova Scotia by improving the financial stability of beginning farmers during their first years of operation through interest rebate support on eligible new loans.
The program focuses on supporting beginning farmers, commercial farm purchases, financial stability for new farm owners, commercial-scale farm development, innovative technologies with labour efficiencies, technologies supporting local food production, investment in active farm locations, reactivation of viable farmland, and inclusive participation from underrepresented and underserved communities including women, persons with disabilities, Black and African Nova Scotians, Mi’kmaq, Indigenous peoples, 2SLGBTQI+ individuals, and racialized communities.
Under Stream 1, beginning farmers are eligible if they are starting their first farm business, have owned a farm business for less than five years, and have not yet achieved $30,000 in farm revenue. Applicants are expected to work with their local Business Development Officer or Agricultural Representative to develop business plans and income projections. They must also aim to reach commercial-scale farm sales exceeding $30,000 within five years and achieve a minimum annual gross income level by March 2031 equivalent to the rebate amount received.
Under Stream 2, new farmers purchasing a commercial farm are eligible if they are purchasing their first commercial farm or acquiring at least 25% ownership in a commercial farm for the first time. Applicants purchasing partial ownership must have obtained at least 25% ownership within six months of the application and must be borrowing funds for commercial farm purchases, innovative technologies focused on labour efficiencies, technologies supporting local food production, or investments that create active farm locations or reactivate viable farmland. Eligible farming income is based on the Farm Registration income level.
Applicants can receive funding of up to $100,000. The funding amount is determined through a projected calculation of eligible loan interest over a four-year period. Applications must be submitted within six months from the date the loan offer is accepted. Applicants are required to provide loan agreements containing loan details, loan purpose, amortization schedule, fixed interest rate information, and interest calculations covering four years of the loan duration.
The program is available to farms or Mi’kmaq conducting farming activities in a Mi’kmaw community. Applicants must be currently registered under the Farm Registration Act, actively farming during the program year, at least 19 years of age, and residents of Nova Scotia.
The program only supports new loans with fixed interest rates. Business plans and income projections are required for Stream 1 applicants and may also be required for Stream 2 applicants when loans are obtained from lenders that are not farm-focused. Variable interest rate loans, refinancing of existing loans, operating lines of credit, residential mortgage and secondary financing such as second mortgages are not eligible under the program.
For more information, visit Nova Scotia.
